The Bureau of Economy Analysis (BEA) released its second-quarter GDP report on Wednesday, and it’s good news for the American economy.
The U.S. economy grew at three percent in the second quarter (April through June) of 2017, the highest growth rate for a quarter since the first quarter of 2015 and the first time since then GDP growth has hit three percent.
That’s the gist of a new report from the BEA out Wednesday.
The Associated Press and other outlets reported on the news when it broke at 8:30am ET:
BREAKING: US economic growth upgraded to 3 percent rate in April-June quarter, strongest pace in more than 2 years.
— The Associated Press (@AP) August 30, 2017
BEA summed it up:
Real gross domestic product (GDP) increased 3.0 percent in the second quarter of 2017, according to the “second” estimate released by the Bureau of Economic Analysis. The growth rate was 0.4 percentage point more than the “advance” estimate released in July. In the first quarter, real GDP increased 1.2 percent.
President Trump, who has made robust economic growth the central goal of his presidency, will certainly welcome the news. GDP grew in the second quarter at more than double the rate of GDP growth in the first quarter.
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